AHRM 2304 Lecture Notes - Lecture 8: Unsecured Debt, Bankruptcy Act, Data Breach

• School: Virginia Tech
• Department: Apparel, Housing, and Resource Management
• Course: AHRM 2304
• Professor: Solis

Document Summary

As a gesture of good will, most companies waive the charge. If you notify the credit card company within 2 days, you are not legally responsible for any charges. Shop around, comparing: grace periods, annual fees, interest rates. Introductory rates (teaser rate: apr (annual percentage rate, credit card insurance. Bank credit cards: issued by your personal bank, visa or mastercard. Retail charge cards (ex: macy"s or express: very high interest rates. Prestige cards (platinum or black card: different levels, have to qualify. Affinity cards (m. a. d. d. : social responsibility component, a portion of what you use goes to an organization. Depository institutions lend money to their banking customers: in exchange for collateral. Sales finance companies lend money to buy consumer products: ex: ford finance, honda finance. Consumer finance companies make small cash loans: often have very high interest rates, issued to those who are unbanked or underbanked.